Are standards really necessary Essay Example | Topics and Well Written Essays - 2250 words

Are standards really necessary - Essay Example The tasks in making the financial statement are becoming more and more complicated because of the changes in the disclosure and regulatory requirements. According to the Association of Chartered Certified Accountants (ACCA) (2009), the interest on such regulation has given much attention because of the impact of the financial crisis, issues of accuracy and the increasing number of business and stakeholders today. If the increase of regulatory requirement is a meaningful improvement, then understanding on some of its aspects should be enumerated to see if the regulations have contributed to the problems, and whether companies and financial institutions could have acted more responsibly.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Thus this paper will give focus on whether standards are really necessary in the preparation of financial statements. It will also consider the question if the governing regulations are too much to be implemented. And lastly, whether the company is using the improved or the traditional way, the advantage and disadvantages will be tackled. The International Accounting Standards Board (IASB) has drawn up and published a new set of accounting standards called the International Financial Reporting Standards (IFRS) which are now applied globally (Weets, n.d., p. 1). According to the International Accounting Standards Board (2007, p. 28), IFRS is developed by an open public observation that involves accountants and different financial statement users around the world. IFRS development and interpretations are all through an international due process. Authorities are establishing this heavy-handed and more complex approach because of the recent failures of regulation. Many countries including the 9,000 public companies in European Union, Middle East, Russia, China, Japan and Australia believe that this new regulation is the appropriate solution

The qualitative and quantitative research paradigms and its underlying Essay

The qualitative and quantitative research paradigms and its underlying principles - Essay Example This research will begin with the statement that epistemology has its origin from Greek and refers to knowledge. Therefore, the term epistemology is the acquired knowledge or explanation of how people come to know about the existence of something. The epistemology knowledge can be acquired through first hand experience or through theoretical study. According to Trochim, epistemology defines and explains how people come to know the reality of life. In general epistemology try to explain some of the following concept; the relationship between the knowledge and the individual who have acquired it, the manner in which the knowledge has been acquired, what is the meaning of the term knowledge to various individuals, and the general explanation of the important of the acquired knowledge to the knowledgeable and the entire society. On the other hand, the term ontology refers to the understanding and explanation of real life situation while the term paradigm is the entire belief systems that help people and researchers in doing their daily activities. It defines a set of practices and activities that are normal and valid in any situation. Therefore, proper understanding of the knowledge under study and the available research methods are the pillars of coming up with the best and practical research method which can bring about the desired outcome. In scientific research various methods are applied on various different scenarios. The paper below is based on explaining and analyzing the qualitative and quantitative research paradigms and its underlying principles as well as addressing the issue of different epistemological, ontological and methodological worldviews underpinning each of the two perspectives. The paper will also address the ethical considerations relating to research in tourism. Coll (2000, p 90) observed that, paradigm explains the experiment and practical means of acquiring knowledge, beliefs, and ideology on how an activity should be done. It is the mann er in which people acquire the knowledge and understanding of different perspectives. The object being studied should be researched and thoroughly analyzed to get the in depth knowledge and understanding of the subject (Coll 2000, p 91). The knowledge of the paradigm are acquired and approved through observation and analysis of the available ideas and facts. The individuals expected to acquire the paradigm beliefs and ideologies must practice the knowledge acquired to gain consistency and first hand experience. Therefore, knowledge is acquired through the meaning attached to a certain event. Researchers have to come to touch with the subject under study to acquire data necessary in the analysis process. The process to coming into touch with the object under study or the scenario under investigation to collect data is what is referred to as scientific research The interaction with the subject under investigation enhances changes in knowledge to both the researcher and the subject (Co ll, 2000, p. 91). Therefore, the knowledge and understanding of the epistemology differences between the various research paradigm among the research conducted on tourist is pure philosophical but not methodological. Denzin (2002, p. 102) stated that, the researcher theoretical knowledge plays a very crucial role in deciding the method to be used in a research. This is because of the implanted beliefs systems and ideologies about the subject under study. Hence, the researchers in the tourism study were guided by their initial knowledge about the tourism sector. The knowledge which guides the decision on the method can be acquired either through literature review or physical observation of a phenomenon. Therefore, the ontological assumption is squarely responsible for determination of the methodology to be applied in a research. In the study on tourism, the researchers have used the qualitative a